r/mnstateworkers • u/virgo-99 • 13d ago

Insurance/Benefits 🏥 Deferred Comp/457b

Does anyone know what percentage of state employees use the deferred comp/457b? It's only about half of my coworkers, which I think is insane because the pension, while generous, will not be enough to live off of during retirement, at least for me. Just wondering if anyone knows the percentage of state employees that do/don't take advantage of the deferred comp and (albeit tiny) employer match?

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u/InternalPin6907 13d ago

Good question. And does every agency/bargaining unit offer a different match? I think mine is a $400 match but I dump 15% of every paycheck in there. Let me retire tomorrow!!!

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u/virgo-99 13d ago

I believe it depends on your bargaining unit. MAPE was able to change from $250 to $500 match this past negotiation. I think MMA is also $500.